Project Differentiation
FAMILY SAVINGS CREDIT UNION
As a member-owned, not-for-profit financial cooperative, Family Savings Credit Union is committed to our members. We will uphold our fundamental responsibility to actively serve people within our field of membership, and as appropriate, communities they live in. We will treat all members with respect and dignity. We will deliver a range of low cost products and services to the diverse economics and social makeup of our members and potential members. We will look for better ways to reach out to the un- or underserved in our field of membership. And we will continually, in all facets of operations, demonstrate the value of membership in Family Savings Credit Union.
We will monitor and communicate our services to members in a meaningful way so that members, potential members, legislatures, regulators, and the community at large will understand and appreciate the unique role that member-owned financial cooperatives play in their lives.
Throughout Family Savings Credit Union's strategic plan, we will put forth every effort to enable our members to become financially self-sufficient and successful. We will place high importance on consumer education and the teaching of financial thrift.
This Statement of Commitment to Members is consistent with our credit union principles of "Not for Profit, Not for Charity, But For Service" and our philosophy of "People Helping People." This statement represents good business practices that ensure the financial strength of our credit union on behalf of our members.
Section I: Service to the MembersFamily Savings Credit Union strives to offer services designed to improve the economic and social well-being of all members from all socio-economic backgrounds, including our low and moderate income members, and return financial value to all those who participate in our member-owned financial cooperative.
Current Services that Help Improve the Economic and Social Well-Being of Members:|
1. Share Accounts 2. Share Draft Account 3. Christmas Clubs 4. Certificate of Deposits 5. Individual Retirement Accounts 6. Money Market 7. ATM Cards 8. FSCU ATM Locations 9. VISA Cards 10. VISA Cash Advances 11. Overdraft Protection 12. Direct Deposit 13. Payroll Deduction 14. Money Orders 15. Cashier Checks 16. Travelers Cheques 17. Notary Service 18. Wire Transfer |
19. Counter Checks 20. Check Copies 21. New & Used Auto Loans 22. Recreational Vehicle Loans 23. Signature Loans 24. Share and Certificate Secured Loan 25. Mobile Home Loans 26. Mortgage Loans (1st & 2nd) 27. Home Equity Loans 28. Credit Life Insurance 29. Credit Disability Insurance 30. Life Savings Insurance 31. Credit Union Service Center 32. DIAL Connection Telephone Response System 33. Quarterly Share Account Statements 34. Monthly Share Draft Account Statements 35. Extended Hours 36. Financial Counseling |
New Services Planned for the Coming Year:
- Web Page - will be accessible 24 hours a day to provide account information, forms, calculations and provide a communication link between the member and credit union.
- NetTeller - will allow members to view and reconcile account information, transfer funds, etc. (on line link to home page).
- FSCU Bill Payment - will be linked to home page - member can use to pay various types of bills on line.
- Debit Card - used to access funds from share draft account anywhere VISA is accepted.
- Growth - will continue to promote and expand field of membership.
Family Savings Credit Union is committed to member and consumer financial education; in addition we are committed to educating members and consumers, alike, about credit union uniqueness, philosophy, and value.
Current Programs that Support Member Education and Advocacy:
- Newsletters - The credit union publishes both a quarterly newsletter and a monthly newsletter to discuss current issues, new services, loan promotions, rates and other various information.
- Financial Counseling - A representative has been established for each branch location to help members with financial or credit concerns.
- Employee Orientation. Family Savings provides a comprehensive orientation for new employees, which includes emphasis on credit union uniqueness. In turn, employees convey this information to the members.
- Employee Planning Session - Used to explore needs of membership based on the perceptions, observations and experiences of employees. This information allows Family Savings to better understand what financial subjects members need more educational information about.
- Member Market Segmentation - Family Savings uses member market segmentation to help determine the demographic make up of its members so that products and services may be specifically targeted to meet their needs.
- Cultivation of Indirect Markets - Family Savings specifically targets the indirect members for additional products and services to ensure full participation and viability.
New Programs Planned for the Coming Year:
- Website - plan to use site as an informational service housing consumer financing and buying tips.
- NetTeller Seminar- will conduct free NetTeller seminar for membership on procedures to access FSCU account online.
- Public Service Announcements (PSAs) - will use PSAs to educate membership and potential membership on credit union philosophy.
Family Savings Credit Union will endeavor to preserve credit union democratic principles, including demographic representation and volunteer participation in credit union activities.
Current Programs that Support Involvement/Governance:
- Board Elections - All board members are elected by the membership. Full participation of the membership is encouraged.
- Nominating Committee - Strives to ensure proper procedures are carried out in the election process.
- Annual Meeting - We invite the entire credit union membership to the annual meeting where elections are held for available seats on the Board of Directors and Supervisory Committee. We also draw for door prizes and offer refreshments to help entice members to attend.
- Committee Involvement - Family Savings has several committees and strongly encourages volunteer/staff participation in these committees. The committees are:
- Personnel Committee, Negotiation Committee, By-Laws Committee and Compliance Committee.
- Campaign for Consumer Choice - Family Savings actively participated and monetarily supported the Credit Union Campaign for Consumer Choice. Family Savings' Board of Directors, Management, Staff and Members asked their congressional representatives to support the Credit Union Membership Access Act, H.R. 1151.
New Programs Planned for the Coming Year:
Web Page - A web page will provide an easy and quick way for members to voice concerns and comments on the credit union activities. It will also allow members to have current information about credit union programs.
Section IV: DiversityFamily Savings Credit Union will continue to operate as a democratically controlled, member-owned cooperative by focusing management, employees, and volunteers on diversity in the leadership and employees of the credit union.
Current Programs that Promote Diversity:
- Board Representation - The Board of Directors continuously pursues educational advancements through credit union seminars and other training tools. In addition, Family Savings has made a concerted effort to ensure these volunteers are representative of our membership.
- Equal Employment Opportunity - Family Savings actively seeks to fill vacancies by hiring qualified candidates without regard to race, sex, religion, national origin, disability, veteran status or any other basis protected by law.
New Programs Planned for the Coming Year:
Better Communication - The credit union will endeavor to find more and convenient ways in which the membership can voice concerns should they feel a segment of the membership is not being fairly represented.
Section V: Commitment to the Credit Union Movement and other Cooperative ActivitiesFamily Savings Credit Union will work to build and strengthen our unique credit union movement by providing financial and in-kind resources to others within the credit union community, and by actively advocating the credit union difference at all levels of government and in other appropriate public forums. In addition, Family Savings Credit Union will participate in local, state and national cooperative activities as appropriate, and will strive to build and strengthen relationships with other sectors of the national cooperative movement.
Current Activities that Support the Credit Union Movement:
- Political Activity - Family Savings actively works in political campaigns donating time for those who support credit unions.
- Leadership Roles - Family Savings management staff serves on boards and committees for credit union related organizations.
- National Values Campaign - Family Savings participates in collective advertising of credit union programs.
- Continuing Education for Staff - Family Savings helps pay for post-high school education so that employees may further their careers in the credit union movement.
- Chapter Meeting - The credit union takes an active role in the CHEAHA Chapter of credit unions by attending meetings and participating in chapter sponsored activities.
- Credit Union Service Center - Family Savings participates in the Credit Union Service Center Network. This shared branch networking enables members to have credit union access in various geographic locations.
- Junior Achievement Program - The credit union participates in the Junior Achievement Program in the elementary and secondary formats. Credit union employees volunteer time to teach the credit union philosophy and share valuable business knowledge in a classroom setting.
- United Way - Family Savings is heavily involved in United Way. Management and staff contribute time and money to this non-profit organization helping to raise awareness in the community in which we serve.
- Hosting Credit Union Seminars and Tours - Family Savings host visiting credit unions to act as an informational source on products and services. The credit union also host tours for local schools - illustrating the daily functions of a credit union.
New Programs Planned for the Coming Year:
Mentoring - Family Savings management staff will strive to provide assistance to other credit unions in any areas where help is needed.
Section VI: Public Service/Corporate CitizenshipThrough direct financial support or other in-kind contributions to worthwhile local organizations, and by participating in public service activities, Family Savings Credit Union strives to be an active partner in our community. We recognize that practicing good corporate citizenship supports the credit union philosophy of "People Helping People;" furthermore, it will help raise the overall level of social and economic well-being of those in our community, help strengthen ties within the community, and better position us to reach out and serve- as only credit unions can - those people in greatest need of affordable financial services.
Current or Existing Programs:
Monetary and In-Kind Contributions and Donations - Family Savings makes monetary and in-kind contributions and donations to various organizations, such as the following but not limited to:
1. United Way Employee Contribution and Campaign
2. United Way Corporate Contribution
3. Junior Achievement Program
4. American Red Cross
5. Boys & Girls Club of N.E. Alabama
6. Children's Miracle Network
7. E.K. Bowers Scholarship
8. Partnership 2000
9. Etowah County Youth Orchestra Named Endowment Program
10. Etowah County Rescue Squad
11. Gadsden Junior Golf Association
12. YMCA - Healthy Kids Program
13. Love Center / 13th Place
14. Kiwanis
15. Etowah County Fair
16. Darden Rehabilitation
17. Riverfest
18. Southern Christian Leadership
19. Alabama Sheriff's Youth Ranches
20. American Cancer Society / Gadsden Regional Hospital
21. Etowah Baptist Mission
22. Eastern Star
23. Boys & Girls Club Annual Rodeo Sponsor
24. Etowah County Law Enforcement Memorial
25. Etowah County Food Bank
26. Gadsden Times "Adopt-A-Class" Reader Sponsor
27. Dare Drug Program
28. Lions Club
29. American Heart Association
30. Jaycees
New Program Planned:
Employee Commitment to Volunteerism - Family Savings is looking into developing an employee volunteer database to be used within the communities that we serve. Employees could access information on a wide variety of volunteer opportunities and organizations that need assistance to further build upon our commitment to corporate citizenship.
